Replies (17)
So true, so true. Most of the zestimates I see are wildly overpriced.
But then again everyone knows they are not appraisals, just zESTIMATES.
Almost everyone.
LOL Spleng.
- Rooski2u
- Contributions:200
Well, when I was first got turned onto zillow, I had always figured there was no way a single web site could keep up with anywhere close to accurate home values for every neighborhood accross the U.S. Common sense had told me to take the zestimates lightly, and only use them as a general reference for overall ups and downs, and comparing different areas. Afterl all, you have to pay a few hundred bucks to have a person come out to appraise your home. You're never gonna get that for free from a web site.
- DannyInSoCal
- Contributions:445
Please move this post to the "DUH" forum...
Thanx, Danny
- aapostrophe
- Contributions:593
- fillm0re
- Contributions:116
zestimates are typically high.
- space_acer
- Contributions:4311
Dont use Zestimates... use the historical data and find your own conclusions.
- mina36
- Contributions:3478
Anyone who takes Zestimates seriously is someone I can't take seriously. Now, if we are talking Zesties...yumm... I take those VERY seriously :)
- Kasper
- Contributions:211
Actually finding them more and more accrete to where I would say the prices should be in both regains were I live, NY/NJ and South fl,,
- deedeeclausius
- Contributions:47
yes! estimates are very wrong... the home prices are over priced .... protential buyers should take at least $200k or more on listed homes. sorry.... have a nice day...
Boy, that is some pithy insight there, deedee. Thanks.
- Rooski2u
- Contributions:200
"yes! estimates are very wrong... the home prices are over priced .... protential buyers should take at least $200k or more on listed homes. sorry.... have a nice day... "
Cool.......now I can find some homes with zestimates of 200k, and maybe get em for 0.
- Justin Sheftell, "Courtesy Mortgage"
- Contributions:4281
Zestimates - to be used only for ego boosts
ROFL - you guys just made my day. Maybe we should link to this thread from the Zestimate help pages.
DAmejko -
Zestimate are estimates; by definition they can't be "wrong" but they certainly can be inaccurate. As Rooski put it; it's common sense. FYI - Zillow publishes local accuracy metrics to give you a feel for how good Zestimates are in your area.
Buyers should absolutely visit the homes that they're interested in buying and they should certainly consult a local expert. That's the same advice we give buyers on Zillow but thanks for the reminder!
- _7_
- Contributions:11
In other news: sky blue; water wet.
- Slack Jawed Yokel
- Contributions:77
MOST are very high. Although I have been watching a few and they seem to be doing something to regulate, because they are going up and down... some are also quite low. And by some I mean FEW.
- silent_observer
- Contributions:1603
agreed. you have FIX bro? check cyberhomes or check eapprisals.com or anyother crap and take an average.
simple math: price = FUNCTION(RENT, interest rate, HOA, downpayment, interest income)
DIY idiot and you can figureout what will work and what will not. you don't need zillow, you don't need your mom or pop, you don't need a realtor. just do the freaking math or check this link.
and plug in numbers.
zestimates is GREAT.
Zillow Misleads Buyers With Bad Data and Bad Zestimates
Don't be mislead by Zillow's "Zestimates". They are sometimes flat out wrong. They are sometimes widely different from identical homes right next door to each other. Get a realtor, visit the home, assess it's value for yourself.
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